Rising interest rates have yet to strongly impact the multifamily market, as specialists are confident the market will continue to see healthy fundamentals in the near future. While loan origination volumes are expected to stay up, the average value of credit facilities might dip.

The city's multifamily market continues to be one of the most stable in the U.S., while its long-term fundamentals create and attract high-skilled workers. However, the area faces a housing shortage due to high demand.

M&R Development and Globe Corp. developed the new Residences of Wilmette, in Wilmette, Ill. The community was built to achieve LEED Silver certification and is located within commuting distance to Chicago.